UPFRONT
INTELLIGENCE CORPORATE ACQUIRER
TARGET
PRODUCTS COMMENTS
Allstate
SafeAuto
Allstate’s deal for the nonstandard auto insurance carrier, which operates in 28 states, is valued at $300 million
Aquiline Capital Partners; Alight
Aon
Aon has agreed to offload its US retirement business to Aquiline and its Aon Retiree Health Exchange to Alight ahead of its merger with Willis Towers Watson
Davies
SKWeston & Company
Maryland-based SKW offers various outsourcing and technology services for insurance and other highly regulated industries
First Onsite
Maxons Restorations
The deal expands First Onsite’s footprint in the New York, New Jersey and Connecticut tri-state area
Gallagher
LDJ American Online Benefits Group (AOBG)
AOBG offers supplemental health insurance and wellness products through a network of more than 2,500 independent agents
HUB International
EnterMedicare
Los Angeles-based EnterMedicare’s platform offers senior citizens improved access to Medicare
Massachusetts Mutual Life Insurance Company
American Financial Group
The $3.5 billion sale includes Great American Life Insurance Company and two subsidiaries
USAA
Noblr
The purchase of insurtech Noblr will boost USAA’s ability to provide usage-based insurance to its members
Victor revamps builder’s risk program
Victor has relaunched its builder’s risk insurance program with an A++ carrier, with expanded appetite and increased capacity. The MGA offers builder’s risk solutions in 48 states and Washington, DC, covering both residential and commercial construction projects. The revamped builder’s risk program is available for quote, bind and issue online through Victor’s V2 platform, a new business portal that gives agents and brokers the benefits of instant quotes and application management through simplified and streamlined technology-driven processes.
Allstate acquires nonstandard auto carrier
Allstate Corporation has agreed to acquire SafeAuto, a nonstandard auto insurance carrier that provides coverage in 28 states. According to Allstate, total consideration for the deal includes a $270 million cash purchase price and around $30 million in pre-close dividends of certain non-insurance assets. The purchase is being handled by Allstate subsidiary National General; following the acquisition, SafeAuto’s capabilities and distribution will become part of National General’s direct-to-consumer nonstandard auto insurance operations. “I am excited to see SafeAuto join the Allstate family and National General,” said SafeAuto CEO Ron Davies. “Allstate is an iconic brand with superb capabilities and people that will enable SafeAuto to more rapidly scale and serve even more consumers.”
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Rokstone launches new US terrorism facility
London-based MGA Rokstone has created a new terrorism facility for the US market with A-rated capacity. The product was launched as a new alternative to TRIPRA, the US federal program formed after the 9/11 attacks. According to Rokstone, its facility goes beyond TRIPRA with additional emphasis on crisis management, victim support and rehabilitation. It is supported by one of the market’s first online quote-and-buy platforms for terrorism cover, allowing policies to be quickly and easily added to other core commercial covers and quotes to be generated in under a minute.
www.ibamag.com
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